Newbridge Financial Services Group Inc. Purchases Shares of 5,484 WK Kellogg Co (NYSE:KLG)

Newbridge Financial Services Group Inc. purchased a new stake in shares of WK Kellogg Co (NYSE:KLG) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,484 shares of the company’s stock, valued at approximately $103,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kellogg W K Foundation Trust bought a new position in shares of WK Kellogg in the fourth quarter worth $177,458,000. Massachusetts Financial Services Co. MA bought a new position in WK Kellogg in the fourth quarter worth about $18,412,000. Beutel Goodman & Co Ltd. bought a new position in WK Kellogg in the fourth quarter worth about $13,730,000. London & Capital Asset Management Ltd bought a new position in WK Kellogg in the fourth quarter worth about $10,363,000. Finally, Private Management Group Inc. bought a new position in shares of WK Kellogg during the fourth quarter valued at approximately $8,956,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a research report on Wednesday, May 8th. TD Cowen raised their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Barclays lifted their price target on shares of WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 9th. Stifel Nicolaus lifted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, Evercore ISI boosted their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg has a consensus rating of “Hold” and a consensus target price of $16.95.

WK Kellogg Price Performance

WK Kellogg stock traded down $0.39 during mid-day trading on Wednesday, reaching $20.08. 838,431 shares of the company traded hands, compared to its average volume of 1,125,788. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.53. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The firm’s fifty day moving average is $20.83 and its two-hundred day moving average is $15.70.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $697.83 million. The firm’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that WK Kellogg Co will post 1.55 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, May 31st.

WK Kellogg Company Profile

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.